Chevrolet has offered up the official pricing on its Spark EV -- the little vehicle will carry an MSRP of $27,495. Even though the outright purchase price for the Spark is $27,495, people who qualify for the $7,500 federal tax credit will be able to get that purchase price down to $19,995.

People interested in the Spark EV that live in certain areas of California could also qualify for up to an additional $2,500 off purchase price.

Chevrolet is also offering a very attractive lease option for the small electric vehicle that most people will probably choose. The lease option is for 36 months at $199 per month. That lease price puts the monthly out-of-pocket cost for the Spark on par with the Nissan Leaf and the Fiat 500e. The Spark lease does require a $999 down payment, which doesn't include tax, title, registration and other dealer fees.

The EPA estimates that the driving range for the vehicle on a full charge will be 82 miles. The vehicle also uses a SAE combo charger able to recharge the battery to 80% in only 20 min.

A regular, gasoline-engined Spark has an MSRP of $12,185 and get EPA estimated 32/38 mpg (city/highway).

"The Chevrolet Spark EV is the most efficient – and now one of the most affordable - EVs you can buy" said Chris Perry, vice president, Chevrolet Marketing. "Combined with outstanding infotainment and great design, the fun-to-drive Spark EV is engineered to impress."

The Spark EV will be offered through select Chevrolet dealers in California and Oregon beginning in June of 2013.

I dunno what kind of math you guys are doing, but $20k is $333 x 60 months, plus electricity which is almost negligible.$14k is $233 x 60 months, plus gas which could be easily be over $100/mo depending.So not only is there no "payback period", the EV may start putting extra money in your bank account every month from the very first day you drive it.

Compare 96 months and add more miles and more expensive gas, you can put like $12k in the bank with the EV version.

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